ONGC to spend Rs 440 cr on drilling 40 wells at K-G basin
 |
The
drilling will be taken up in the next financial year as this year the
oil and gas major has already taken up around 14 wells for drilling, the
official said.
"The
proposal for development drilling of 40 wells is with the Ministry of
Environment and Forests for clearances. This year we have already taken
up enough work (drilling of 14 wells). If the Environment Ministry asks
us to go for public hearing we will go," the official said.
The onshore wells are located at East Godavari, West Godavari and Krishna Districts of Andhra Pradesh.
According
to ONGC, there are two blocks with estimated reserves of 1,000 million
metric tons of oil or oil equivalent gas in these three districts.
However,
the quantity may up as the drilling is intensified. Last year, ONGC
held public hearing for exploring 24 new wells in the same Districts.
ONGC,
which has 24 blocks in KG basin, produces approximately 840 tons of oil
per day and 3.8 million metric standard cubic meters per day (mmscd) of
gas from its onshore blocks.
"These
wells are from the nominated block prior to New Exploration Licensing
Policy come into being. Most of the Petroleum Exploratory Licence (PEL)
in the nomination blocks will expire in 2013 and therefore we need to
hasten the process," the official explained.
Comments
Post a Comment